If you suffered losses in PureCycle stock contact PureCycle stock loss lawyer Timothy L. Miles about a PureCycle class action lawsuit
Welcome to this investor synopsis of the PureCycle class action lawsuit. In this synopsis, we will discuss PureCycle Technologies, Inc., its background and what it does, the lead plaintiff process in the PureCycle class action lawsuit, how a PureCycle Stock Loss Lawyer can help you, and more.
Read on to learn more about the class action against PureCycle.
background on PureCycle Technologies, Inc.
PureCycle was founded in 2015 and is led by Dustin Olson, its Chief Executive Officer (CEO), Tamsin Ettefagh, Chief Sustainability Officer, Brad Kalter, General Counsel, and Corporate Secretary, and Larry Somma, Chief Financial Officer. The Company has a seven-member Board of Directors consisting of. Daniel M. Coombs (Chairman); Steven F. Bouck; Tanya Burnell; Jeffrey Fieler; Allen Jacoby; Fernando Musa; and Dustin Olson. The Board has three committees. A Nominating and Corporate Governance, a Compensation Committee, and an Audit and Finance Committee.
PureCycle's revolutionary recycling technology, which is protected by a patent and was developed by The Procter & Gamble Company, aims to convert polypropylene plastic waste (specifically categorized as No. 5 plastic) into an endlessly renewable resource. Through its distinctive purification process, PureCycle is able to eliminate color, odor, and other contaminants from No. 5 plastic waste, resulting in an exceptionally pure recycled plastic known as ultra-pure recycled (UPR) plastic. This UPR plastic can be recycled and reused repeatedly, dramatically transforming the interaction with plastic materials. By utilizing PureCycle's innovative purification recycling technology, the company has the power to revolutionize the way it approaches plastic waste.
INTRODUCTION TO THE PURECYCLE CLASS ACTION LAWSUIT
The PureCycle class action lawsuit is currently underway, aiming to represent individuals who purchased or acquired securities of PureCycle Technologies, Inc. (NASDAQ: PCT) between August 8, 2023, and September 13, 2023, inclusive (referred to as the "Class Period"). This legal action, titled Southgate v. PureCycle Technologies, Inc., No. 23-cv-08605 (S.D.N.Y.), alleges that PureCycle and certain high-ranking executives have violated the Securities Exchange Act of 1934.
If you have incurred losses in PureCycle stock and wish to be considered as the lead plaintiff in the PureCycle class action lawsuit, we urge you to reach out to Timothy L. Miles, a knowledgeable PureCycle Stock Loss Lawyer. You can contact Mr. Miles by calling 855/846-6529, sending an email to [email protected], or submitting a contact form. To be eligible for consideration as lead plaintiff in this case, you must file your motion with the court no later than November 28, 2023.
the ALLEGATIONS IN THE PURECYCLE CLASS ACTION LAWSUIT
PureCycle develops patented recycling processes which separates color, odor, and contaminants from plastic waste feedstock to transform it into ultra-pure recycled polypropylene.
The PureCycle class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) PureCycle’s first commercial-scale recycling facility (the “Ironton Facility”) experienced a full plant power outage on August 7, 2023; and (ii) there was a risk of additional failures resulting from the August 7, 2023 power outage.
The PureCycle class action lawsuit further alleges that on September 13, 2023, PureCycle disclosed that “[o]n August 7, 2023, the Ironton Facility experienced a full plant power outage resulting from a severe weather impact to a third-party power supplier. Operations resumed but, on September 3, 2023, the Ironton Facility experienced a seal system failure in a key operation . . . . The seal failure required the Ironton Facility to halt operations to assess any damage and the root cause of the seal failure.” According to the PureCycle class action lawsuit, PureCycle further revealed that it is “unable to eliminate the risk that the restart [procedures] will be unsuccessful, or whether other failures resulting from the August 7, 2023 power outage may be discovered in the future.” The PureCycle class action lawsuit alleges that on this news, the price of PureCycle fell more than 18%.
THE LEAD PLAINTIFF PROCESS IN THE PURECYCLE CLASS ACTION LAWSUIT
Investors who have purchased PureCycle stock and experienced financial losses now have the opportunity to seek appointment as the lead plaintiff in the ongoing PureCycle class action lawsuit, thanks to the provisions outlined in the Private Securities Litigation Reform Act of 1995. The role of the lead plaintiff is crucial, as they represent the collective interests of all other members within the class action lawsuit and guide its direction. To qualify as the lead plaintiff, one must demonstrate both a significant financial stake in the relief sought by the potential class and be representative of the class as a whole.
Once appointed, the lead plaintiff has the authority to choose a legal firm to handle the litigation process for the securities class action lawsuit. It is important to note that an investor's participation in any potential recovery from this lawsuit is not contingent upon serving as the lead plaintiff. Regardless of whether you decide to take on this role, if you have suffered losses in PureCycle stock and require additional information or assistance, do not hesitate to reach out to PureCycle Stock Loss Lawyer Timothy L. Miles.
THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE PURECYCLE CLASS ACTION LAWSUIT
Serving as the Lead Plaintiff in the PureCycle class action lawsuit offers several advantages and important benefits, including:
1. Lead Plaintiffs have the ability to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the actions of the class counsel.
2. As the Lead Plaintiff, you have the advantage of managing the litigation process by overseeing and monitoring the progress of the case and the efforts of the counsel. You also have the opportunity to review and provide feedback on important filings and other documents related to the prosecution of the case.
3. There is no financial risk involved in serving as the Lead Plaintiff. All costs and expenses incurred in the prosecution of the case are advanced by Lead Counsel, who will only be reimbursed if there is a successful settlement or judgment recovery on behalf of the class.
4. The Lead Plaintiff is actively involved in all negotiations related to any potential settlement. This means that you have a say in the terms and conditions of any settlement reached in the case.
5. Furthermore, if you continue to own stock in the defendant company, as a Lead Plaintiff, you can enjoy long-term benefits resulting from governance reforms that may arise as a result of the litigation.
In summary, serving as a Lead Plaintiff in the PureCycle class action lawsuit provides numerous benefits and advantages if you have suffered losses due to securities fraud. By actively participating in the litigation process, you can potentially reduce costs, have a voice in important decisions, and benefit from any resulting reforms.
SHARES PURCHASED OUTSIDE OF THE CLASS PERIOD
Even if you suffered losses in PureCycle stock, if you purchased or sold securities outside of the Class period, you will not be able to participate in the PureCycle class action lawsuit.
LEAD PLAINTIFF compensation in THE PURECYCLE CLASS ACTION LAWSUIT
Lead Plaintiffs will not receive any more money than class members. However, they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the PureCycle class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the PureCycle class action lawsuit on behalf of investors who suffered losses in PureCycle stock.
THE may COURT APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE PURECYCLE CLASS ACTION LAWSUIT
At its discretion, the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the PureCycle class action lawsuit.
CLASS PERIOD DETERMination IN THE PURECYCLE CLASS ACTION LAWSUIT
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
In order to be a part of the class in the PureCycle class action lawsuit, you must have suffered losses in PureCycle stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against PureCycle.
HOW CAN A PURECYCLE STOCK LOSS LAWYER can HELP you
A PureCycle stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the PureCycle class action lawsuit. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct.
Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.
One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).
This will most likely be the only call you need to make. (855) 846–6529 or [email protected].
CONTACT A PURECYCLE STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN PURECYCLE STOCK ABOUT A PURECYCLE CLASS ACTION LAWSUIT
If you suffered losses in PureCycle stock, contact PureCycle stock loss lawyer Timothy L. Miles today for a free case evaluation about a PureCycle class action lawsuit. Call today and see what a PureCycle stock loss lawyer could do for you if you suffered losses in PureCycle stock.
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, 6Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America's Most Honored Lawyers 2020; Top 1% by America's Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
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